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Deductions & credits
the sales tax is deductible if you itemize but note that the total for deductible taxes on schedule A is limited to $10,000.
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Someone totaling my car isnt considered a casualty loss. it is but it is a personal casualty loss that is not deductible for the years 2018-2025 because Congress changed the tax laws in 2018 and the POTUS signed the changes into law. had you been self-employed all or a portion could have been a business casualty loss. no insurance? because another rule that has been in effect for a long time says that if a loss is deductible you can't deduct the portion covered by insurance if you don't file a claim and if you do the loss is reduced by the insurance proceeds
‎February 2, 2023
1:40 AM